Why Solar Stocks Are Quietly Reshaping the Energy Game

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First Solar (FSLR) is making some bold moves. The company’s dumping $0.9-1.2 billion into manufacturing expansion this year, betting big on thin-film solar modules riding the clean energy wave. AI data centers need power. Lots of it. And that’s fueling demand harder than expected.

The play here? FSLR plans to pump out 16.7-17.4 GW of modules by year-end 2025. They’re also fast-tracking their next-gen CuRe modules (launching early 2026) while doubling down on perovskite R&D to squeeze out better efficiency and lower costs.

Numbers worth watching:

  • EPS forecast jumping 21.63% (2025) and 58.36% (2026) YoY
  • Trading at 11.45X forward P/E vs industry avg 18.29X—basically a discount play
  • Stock up 9.2% last month while sector averaged 4.9%

Other solar players catching the same tailwind: SolarEdge (SEDG) is using R&D muscle to break into AI infrastructure; Sunrun (RUN) became the U.S. residential solar king partly through smart capital deployment.

Zacks has FSLR at Rank #3 (Hold), but that valuation gap is worth eyeing. Clean energy capex cycles don’t happen every day.

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